Money Concepts Capital Corp Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Money Concepts Capital Corp lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,811 shares of the company’s stock after selling 1,056 shares during the quarter. Eli Lilly and Company makes up about 0.7% of Money Concepts Capital Corp’s holdings, making the stock its 26th largest holding. Money Concepts Capital Corp’s holdings in Eli Lilly and Company were worth $9,118,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Confluence Wealth Services Inc. raised its holdings in shares of Eli Lilly and Company by 23.4% during the fourth quarter. Confluence Wealth Services Inc. now owns 8,794 shares of the company’s stock valued at $6,741,000 after acquiring an additional 1,665 shares during the last quarter. Country Club Bank lifted its position in Eli Lilly and Company by 27.1% during the fourth quarter. Country Club Bank now owns 3,378 shares of the company’s stock worth $2,614,000 after buying an additional 720 shares in the last quarter. Berkshire Money Management Inc. purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $302,000. Lockheed Martin Investment Management Co. lifted its position in Eli Lilly and Company by 38.8% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 23,290 shares of the company’s stock worth $17,980,000 after buying an additional 6,510 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its position in Eli Lilly and Company by 25.7% during the fourth quarter. Y.D. More Investments Ltd now owns 171 shares of the company’s stock worth $132,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 3.4 %

NYSE:LLY opened at $870.56 on Friday. The stock has a 50-day simple moving average of $786.57 and a 200-day simple moving average of $843.28. The stock has a market cap of $826.44 billion, a P/E ratio of 94.11, a P/E/G ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $707.02 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. As a group, analysts anticipate that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company announced that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LLY shares. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.